BCSC: Manchester international appeal increasing, say agents
Research from JLL has listed Manchester as the 22nd most attractive retail market for international brands in Western Europe, while Savills said that the city has seen a 9% net increase in new brands since 2012.
JLL’s Destination Retail 2016 report, launched today at the BCSC conference taking place in Manchester, examined the presence of 240 cross-border brands in 140 cities. London was the only other UK city on the list, and came top, featuring outlets for almost all of the shops surveyed by JLL.
According to JLL, prime ‘Zone A’ rents in areas such as Market Street in the city centre have reached £310/sq ft, and the city has one of the strongest five-year retail sales growth forecasts in the UK.
Meanwhile, Savills described Manchester’s retail scene as “booming”, with 600 brands now present in the city centre including seven retailers which have arrived this year.
In total, 54 new retailers have opened in the city since 2012, a net increase of 9%, more than half of which are classed as aspirational or premium retailers.
Five of the seven new arrivals over the past year fall into the aspirational category, with new names including Mint Velvet, Kiko Milano, Kiehl’s and & Other Stories taking space.
David Charlton, associate in the retail team at Savills, said: “Not only is Manchester attracting a diverse set of quality retailers, but many operators are choosing to come to the city above other locations. For example, the & Other Stories in Manchester is the first time the brand has ventured outside the capital. Retailers have confidence in the continued attraction of Manchester as a shopping and leisure destination.”